As India witnessed a surge in the number of coronavirus cases over the past few days, the Union government stepped up measures to curb the spread of the disease. Finance Minister Nirmala Sitharaman announced a few financial measures on Tuesday.
At a press conference, Sitharaman announced that the last date for Aadhaar-PAN linking has been extended till June 30. Earlier, the last date to link the cards was March 31, failing which the would have to pay a fine of Rs 10000.
The decision has been taken keeping in mind the current situation in the country. The FM has also extended the last date for filing of Income Tax returns for the financial year 2018-19 till June 30.
While there is no extension on the deposit of TDS, Sitharaman provided relief by reducing the interest rate to 9% till June 30. The current rate was 18%.
Another important move includes the extension of Vivad se Vishwas scheme till June 30 with no additional 10% charge. The last date for filing Goods and Services Tax (GST) for the month of March, April and May 2020 has also been extended to June 30.
Sitharaman assured the people of India that the finance ministry will soon announce an economic package after the coronavirus outbreak.
Prime Minister Narendra Modi will address the nation at 8pm on Tuesday, where he might make some important announcements.